Merck And AstraZeneca Amend Partnership, Agree Terms for Two More Years
Merck and AstraZeneca have amended their US partnership, giving the latter a 2014 buyout option.
Merck and AstraZeneca have amended the option agreement relating to their AstraZeneca LP (AZLP) partnership, agreeing that any potential move by AstraZeneca to acquire Merck's interest will not be made for another two years.
According to the updated agreement, AstraZeneca now has a new option to acquire Merck's interest in their US partnership in June 2014.
Until then, Merck will continue to record supply sales and equity income from the partnership.
Peter Kellogg, executive vice-president and chief financial officer of Merck, said that the amendment "provides clarity about the valuation of this long and successful partnership".
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